With contributions by Josh Goldberg
This is the third in a series on the end of the London Inter-Bank Offered Rate (LIBOR), a widely used financial metric that is integral to global finance. In this post, we discuss the implications for the reverse mortgage market not adopting SOFR (yet). In the past two posts, we covered why LIBOR is being discontinued and what is going to be the primary replacement. As the publishing deadline for LIBOR approaches, and as we see more headlines like this one that quantify the expected costs of discontinuing LIBOR, we are pivoting the focus of the series to discuss the implications for some of our clients here at Summit.